The light at the end of the tunnel for housing?
Welcome to the Know the Difference Minute for Tuesday, June 20th. 
By many measures, the housing market has been in a recession ever since the Fed started hiking rates. Homeowners may feel locked into their current homes as many have mortgage rates significantly below where current rates are.
A possible beneficiary of this, though, are home builders who create new inventory. 
The government’s data on housing starts in May jumped an eye-popping 21% from the April levels. Home builder sentiment is improving.
Maybe the housing market *is* beginning to roar back, but investors should be careful. A widely followed index of home builder stocks is near its previous peak as investors anticipated this turn in the data all the way back in October 2022. What’s good for the economy might not always be great for investors if the market was already anticipating the economic turn.
I’m Brian Jacobsen, Chief Economist at Annex Wealth Management.  That is your Know the Difference Minute.